CROWN CASTLE In/SH SH (CCI) Hits New 12-Month High at $116.89

CROWN CASTLE In/SH SH (NYSE:CCI) shares reached a new 52-week high on Thursday . The company traded as high as $116.89 and last traded at $117.19, with a volume of 328313 shares trading hands. The stock had previously closed at $115.00.

CCI has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, August 16th. ValuEngine cut shares of CROWN CASTLE In/SH SH from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. TheStreet cut shares of CROWN CASTLE In/SH SH from a “b” rating to a “c+” rating in a research note on Wednesday, October 17th. Moffett Nathanson cut shares of CROWN CASTLE In/SH SH from a “buy” rating to a “neutral” rating and set a $118.00 price target for the company. in a research note on Monday, December 3rd. Finally, UBS Group set a $120.00 price target on shares of CROWN CASTLE In/SH SH and gave the company a “buy” rating in a research note on Friday, September 28th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $118.11.

The company has a market cap of $48.73 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.33.

CROWN CASTLE In/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.22%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. As a group, equities research analysts expect that CROWN CASTLE In/SH SH will post 5.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a $1.125 dividend. The ex-dividend date is Thursday, December 13th. This represents a $4.50 dividend on an annualized basis and a yield of 3.89%. This is a boost from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s dividend payout ratio (DPR) is currently 86.60%.

In other news, Director Langenfeld Cynthia K. Christy purchased 900 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was purchased at an average price of $106.19 per share, for a total transaction of $95,571.00. Following the completion of the purchase, the director now directly owns 25,424 shares in the company, valued at approximately $2,699,774.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of CROWN CASTLE In/SH SH by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 53,196,893 shares of the real estate investment trust’s stock worth $5,922,410,000 after buying an additional 3,771,236 shares during the last quarter. Magellan Asset Management Ltd lifted its stake in shares of CROWN CASTLE In/SH SH by 0.4% during the 2nd quarter. Magellan Asset Management Ltd now owns 12,710,313 shares of the real estate investment trust’s stock worth $1,370,426,000 after buying an additional 53,501 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CROWN CASTLE In/SH SH by 2.4% during the 2nd quarter. Janus Henderson Group PLC now owns 6,607,141 shares of the real estate investment trust’s stock worth $712,416,000 after buying an additional 155,279 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CROWN CASTLE In/SH SH by 10.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,983,955 shares of the real estate investment trust’s stock worth $666,172,000 after buying an additional 584,509 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of CROWN CASTLE In/SH SH by 2.2% during the 3rd quarter. Renaissance Technologies LLC now owns 5,405,300 shares of the real estate investment trust’s stock worth $601,772,000 after buying an additional 115,597 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.

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CROWN CASTLE In/SH SH Company Profile (NYSE:CCI)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.

Further Reading: Yield Curve

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